FX168 Financial News (North America) on Thursday, a bipartisan panel of senators proposed a new 25% investment tax credit for investments in semiconductor manufacturing. At present, Congress is trying to speed up the production of chips in the United States.

The proposal, proposed by Ron Wyden, chairman of the Senate Finance Committee, and Republican senators Mike Crapo, Mark Warner, John Cornyn, Debbie Stabenow and Steve Daines, will provide "reasonable and targeted incentives" for the domestic semiconductor manufacturing industry.

Senators said the tax credit would apply to the construction of manufacturing equipment and facilities, and that the bill would also include incentives for specialized equipment needed to make and make chips.

Last week, the Senate approved $52 billion in spending by a vote of 68 to 32 to increase U.S. production and research in semiconductors and telecommunications equipment, including $2 billion for chips used by carmakers.